“When I was 14, I started saving for a car. I put the money in a box—I called it my ‘car savings box.’”--Drew
You have a goal, but it costs money. Now what?
To reach a goal, you need a plan. One way to make a plan is to break your goal into four action steps.
Step 1.
Write down your goal. Or, cut out a picture and put it on the wall or in your wallet to remind yourself what you’re working toward.
Step 2.
Calculate how much money it will cost to reach your goal. If you don’t know the cost, find out. For example, if your goal is to buy a computer, call a few stores that sell computers. If your goal is to buy a used car, look in the newspaper’s classified ads.
Step 3.
Estimate how long you have to save for your goal. 3 weeks? 3 months? 3 years?
Step 4.
Determine how much you must save each week to reach your goal. For example, if your goal is to buy a $900 computer in 3 months (12 weeks), you must save $75 a week (900/12 12 = 75). Click on the links for ideas on how to save and earn money.
Print this worksheet and use it to break your goals into small parts.
Example:
Books for College $200 September 2007 20 months $10/month
